Build Reserves
If the Trump era is marked by any consistent pattern, it’s unpredictable disruption. It’s impossible to know day-to-day what industry he’ll target next. Well, unless you’re in his insider trading circle, I guess.
For the rest of us, building up modest, reasonable reserves is wise. Take stock of the things you use regularly and whenever you see a sale, buy one extra unit. This avoids a “run on the bank” during a crisis, while building your resilience.
How to do it:
Food is a good place to start. Canned goods, dry beans and rice and pasta all hold well. Watch for sales of the products you already buy and pick up a few spares when the prices are good. If you lack storage, consider a few plastic tubs in the garage. Remember to rotate the stock through. “Shop” in the backstock and restore what’s there until an emergency arrives.
Household goods are another area to consider. Paper goods, OTC medicines (and prescription if you are able to stock up) are all potential areas of disruption. Many medical supplies come from just a few sources and environmental disasters can cause disruption.
Finally, consider other things you use regularly, or seasonally. What would be a problem if you couldn’t get it when you want it? Make a list and watch for sales.
Costco is a good place to buy in bulk (maybe a co-op with a neighbor?) but we also recommend becoming familiar with minority markets in town. The price of beans, lentils, rice and even spices is often much lower at stores that cater to communities that consider them staples.
